28457-1 Exchange Group 97T44 4,4 Q"
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: September. 7, 1999 CONSENT CALENDAR: -Lq
ITEM TITLE: Acceptance of Improvements STUDY SESSION:
Associated with Tract 28457-1, Bella Vista
PUBLIC HEARING:
•Illl 14 0111-1119 •1
Accept improvements to Tract 28457-1.
None.
None.
p1011,110;t0• 0 1• • �
The Bella Vista subdivision is located on the north side of Fred Waring Drive east of
Washington Street. All improvements are now complete and other obligations of the -
Subdivision Improvement Agreement have been satisfied.
The alternatives available to the City Council include:
1 . Accept improvements to Tract 28457-1 and authorize staff to release security
as outlined in Attachment 2; or
2. Provide staff with alternative direction.
Respectfully submitted,
Chris A. Vogt 16�
Public Works Director/City Engineer
TA WDEMCOUNCIL\1999\9909079.wpd
Approved for submission by:
Thomas P. Genovese, City Manager
Attachments: 1. Vicinity Map
2. Security Outline
167
T:\PWOEPT\COUNCIL\l 999\990907g.wpd
V
ATTACHMENT 1
VICINITY MAP
(NO SCALE)
w
mm
ATTACHMENT 2
TRACT 28457-1
Improvement
Performance
Security
Payment
Security
Warranty
Security
Domestic Water
$92,000
$92,000
$9,200
Sanitary Sewer
$107,249
$107,249
$10,725
Streets & Storm
$270,888
$270,888
$27,089
Drainage
Monuments
$4,400
$0
$0
Grading
$32,700
$32,700
$3,270
Electrical
$160,200
$160,200
$16,020
Perimeter Wall
$130,000
$130,000
$13,000
Perimeter &
$163,800
$163,800
$16,380
Basing Landscaping
$961,237
$956,837
$95,684
Median (Participatory)
$83,440
Traffic Signal
$55,608
(Participatory)
Retain full amount of participatory improvement security until improvements are
constructed. Release performance security when warranty security is received.
Release payment security in 90 days (December 7,1999). Release warranty security
in one year (September 7, 2000).
169
005
T:\PW DEPT\CO U NC IL\ 1999\990907g. wpd
CITY OF LA QUINTA
SUBDIVISION IMPROVEMENT AGREEMENT
TRACT 28457-1
THIS SUBDIVISION IMPROVEMENT AGREEMENT (the "Agreement") is made and entered into this
21st day of May 119 �7 , by and between
The Exchange Group, Inc., a California Corporation hereinafter referred to as "Subdivider," and the City of La Quinta,
a municipal corporation of the State of California, hereinafter referred to as "City."
RECITALS:
A. Subdivider has prepared and filed a final map or parcel map (the "Map") of a unit of land in the City of La
Quinta, County of Riverside, which unit of land is known as Tract No. 28457-1 (the "Tract") pursuant to the
provisions of Section 66410, et sec. of the California Government Code (the "Subdivision Map Act").
B. Prior to approval of the Map, Subdivider is required to install or agree to install certain public and private
improvements (the "Improvements").
C. The Improvements have not been installed and accepted at this time.
D. It is therefore necessary that Subdivider and City enter into an agreement for the installation of the
Improvements as provided in Section 66462 of the Subdivision Map Act.
NOW, THEREFORE, it is agreed by and between the parties hereto as follows:
1. Improvement Plans. Prior to submittal of the Map for approval by the City Council, Subdivider shall furnish
original improvement plans meeting the requirements of the City Engineer.
2. Improvements. Subdivider shall construct the public and private street, drainage, utility, landscaping, and
other improvements required to be constructed or agreed to be constructed under this Agreement as listed in Exhibit
"A", and shall bear the full cost thereof. The methods, standards, specifications, sequence, and scheduling of
construction shall be as approved by the City Engineer.
3. Improvement Security.
A. One class of security to be provided by Subdivider, hereinafter referred to as "performance security,"
shall assure the faithful performance of this Agreement including construction of the Improvements, payment of
Subdivider's fair share of Improvements which have been or will be constructed by others ("Participatory
Improvements"), and payment of plan check and permit fees. A second class of security to be provided by
Subdivider, hereinafter referred to as "payment security," shall assure the payment of the cost of labor, equipment
and materials supplied to construct the Improvements. A third class of security to be provided by Subdivider,
hereinafter referred to as "warranty security," shall serve as a guarantee and warranty of the Improvements for a
period of one year following the completion and acceptance of the Improvements. Subdivider shall furnish
performance and payment security prior to and as a condition of City Council approval of the Map. Subdivider shall
provide warranty security after Improvements are complete and accepted by the City Council and prior to or
concurrently with the final release of performance security. Warranty security shall not be required for
Monumentation or Participatory Improvements. However, the City may utilize Monumentation Security for
performance of or payment for the work in accordance with the Subdivision Map Act.
As part of the obligation secured by each of the performance security, payment security and warranty
security, and in addition to the face amount of each such security, each such security shall include and assure the
payment of costs and reasonable expenses and fees, including reasonable attorney's fees, incurred by City in
successfully enforcing the obligations thereby secured. -
C:\WP\TRACTS\Agreements\28457-1 .sia Page 1 of 6
B. Improvement security shall conform with Section 66499 of the California Government Code and one
or more of the following:
1) A cash deposit with City or a responsible escrow agent or trust company, at City's option.
2) Surety bonds, of the form specified in subsection 66499.2 of the California Government Code,
issued by a surety or sureties listed in the U.S. Department of Treasury Circular 570 (latest version).
3) Certificates of deposit, in City's name, from one or more financial institutions subject to
regulation by the state or federal government and having a financial quality rating of "A" or better and a commitment
reliability rating of "R-2" or better on the Investment Data Exchange (of the Los Angeles County Treasurer's office).
4) Irrevocable letters of credit, issued by one or more financial institutions meeting the requirements
of Paragraph (3), pledging that the funds necessary to carry out the completion of the Improvements are on deposit,
guaranteed for payment, and constitute a trust fund which is not subject to levy or attachment by any creditor of
the depositor until released by City. Letters of credit shall guarantee that all or any portion of the funds available
pursuant to the letters of credit will be paid upon the written demand of City and that such written demand need
not present documentation of any type as a condition of payment, including proof of loss. The duration of any such
letter of credit shall be for a period of not less than one year from the execution of the agreement with which it is -
provided and shall state, on its face, that the letter of credit will be automatically renewed until such time that City
authorizes its expiration or until sixty (60) days after City receives notice from the financial institution of intent to
allow expiration of the letter of credit.
5) A lien upon the subdivided property, if City finds that it would not be in the public interest to
require the installation of the Improvements sooner than two (2) years after recordation of the final map or parcel
map for which the Improvements are required. The lien shall provide a collateral value of three (3) times the
estimated cost of the Improvements and shall include the power of sale of the real property, all buildings and
improvements thereon, or that may be erected upon or made thereto, together with all hereditaments and
appurtenances thereunto belonging, or in any wise appertaining, and the reservations, remainders, rents, issues, and
profits thereof. The collateral value of the property shall be established at Subdivider's expense through an appraisal
approved by City.
6) An instrument of credit from an agency of the state, federal or local government, when any
agency of the state, federal, or local government provides at least Twenty Percent (20%) of the financing for the
Improvements.
7) When Subdivider is a non-profit organization, security may be negotiable bonds, of the kind
approved for securing deposits of public moneys with City or in favor of City, as specified in Section 16430 of the
California Government Code, deposited, at City's option, with City or a responsible escrow agent or trust company.
C. All securities shall be furnished in accordance with the provisions of Exhibit A. The amount of the
performance security shall equal One Hundred Percent (100%) of the estimated cost of constructing the
Improvements, including payment of plan check and permit fees, as estimated by the City Engineer or a duly
authorized representative of the City Engineer. The amount of Payment security shall equal the amount of the
amount of performance security, except as otherwise set forth in Exhibit A, and shall be furnished as a separate
security. Warranty security shall equal Ten Percent (10%) of the amount of performance security except as
otherwise set forth in Exhibit A.
D. At the time of submittal of security, Subdivider shall pay to City administrative fees applicable to the
form of security provided. Administrative fees shall apply to the subdivision (final map, parcel map or waiver of
parcel map) rather than to individual security instruments. The fees shall be paid separately for each different form
and/or source (surety or financial institution) of security initially submitted and for substitution of securities but shall
not be required for submittal of warranty security if the warranty security is of the same form and from the same
source as the performance security it replaces. Administrative fees for security shall be as follows:
1) For certificates of deposit and letters of credit as described in Paragraphs 3) and 4) of SECTION
3.B., for which establishment of evidence of reliability of the financial institution requires City's membership in the
Investment Data Exchange, the administrative fee shall be One Hundred Fifty Dollars ($150.00).
C:\WP\TRACTS\Agreements\2.8457-1.sia Page 2 of 6
2) For liens on real property as described in Paragraph 5) of SECTION 3.13., for which City will
prepare lien agreements and subordination agreements, administer valuation of the real property and administer the
agreements over the life of the lien, all of which require legal assistance and financial advice, Subdivider shall pay
to City an administration fee of One Half of One Percent (0.5 %) of the estimated cost of the improvements secured
but not less than Five Hundred Dollars ($500.00) nor more than Five Thousand Dollars ($5,000.00).
3) For other forms of security listed in Section 3 B, above, there will be no administrative fee.
E. Participatory Improvements, if any, are identified in Exhibit A. Security for Participatory Improvements
shall remain in place until the Participatory Improvements are constructed and actual costs are known and paid by
Subdivider, or until Subdivider pays to City the estimated cost of the Participatory Improvements, and shall guarantee
the reimbursement by Subdivider of Subdivider's share of the cost of the Participatory Improvements. Payment
security and warranty security shall not be required for Participatory Improvements.
Upon written demand from City, Subdivider shall deposit cash with City in lieu of or in replacement of security
guaranteeing Participatory Improvements. If Subdivider fails to deposit said cash within 30 days of the date of the
written demand from City, City may present a written demand to Subdivider's Surety for payment of said cash and
Subdivider's Surety shall pay to City the lesser of: 1) the amount demanded, or 2) the amount of the security.
F. Security shall not expire, be reduced or become wholly or partially invalid for any reason, including
non-payment of premiums, modifications of this Agreement and/or expiration of the time for performance stated in
this Agreement, without express authorization from City unless the surety provides City with sixty (60) days written
notice by registered or certified mail, return notice requested.
G. Security shall be released in the following manner:
1) Performance security shall be released upon the final completion and acceptance or approval,
by the City Council of the Improvements subject to the provisions of paragraph B.
2) The City Engineer may authorize partial reduction of performance security as work progresses,
upon application by Subdivider. However, no such reduction shall be for an amount less than Ten Percent (10%)
of the total performance security provided for the faithful performance of the act or work. In no event shall security
be reduced below that required to guarantee the completion of the act or work or obligation secured, plus Ten
Percent (10%). The City Engineer shall not allow more than two partial reductions of security furnished for any
improvement agreement.
3) Participatory Improvement security shall be released upon payment by Subdivider of Subdivider's
share of the cost or estimated cost of the Participatory Improvements.
4) If City receives no notice of recorded claims of lien, labor and materials security shall be released
in full 90 days after final acceptance and/or approval by the City Council, of the Improvements. If City receives
notice of any recorded lien, the provisions of the Subdivision Map Act shall apply.
5) Warranty security not utilized during the warranty period shall be released one year after final
acceptance or approval by the City Council of all Tract Improvements. However, if at the end of the one-year
warranty period, there are one or more outstanding requests by City for performance of work or provision of materials
under the terms of the warranty, warranty security shall be retained until the outstanding requests are satisfied or
until Subdivider has made other arrangements satisfactory to the City Engineer.
4. Permits Required. Prior to commencing any phase of work, Subdivider shall obtain all permits required for
that phase of work and pay all required fees. Work performed under a permit or permits shall comply with all
provisions of the required permits.
5. Off -site Improvements. When the construction of one or more of the Improvements requires or
necessitates the acquisition of real property not owned by Subdivider or City, Subdivider shall use its best efforts
purchase such real property at a reasonable price. In the event that Subdivider is unsuccessful, despite its best
efforts, to acquire such real property at a reasonable price, Subdivider may request in writing that City attempt to
acquire such real property. City may, but is not required to, agree to attempt to acquire such real property on behalf
of Subdivider. If City so agrees, City and Subdivider shall enter a separate written agreement in a form acceptable
C:\WP\TRACTS\Agreements\28457-1.sia Page 3 of 6
to the City Attorney. Said separate agreement shall provide that Subdivider advance to City One Hundred Fifty
Percent (150%) of the appraised fair market value of the real property. Any unexpended portion of said advance
shall be refunded to Subdivider. Any additional funds required for acquisition of the real property shall be paid by
Subdivider to City upon the conveyance of said real property to Subdivider. In no event shall the failure of Subdivider
or City to acquire such real property excuse, waive, or otherwise terminate Subdivider's obligation to construct the
applicable improvement pursuant to this Agreement or the Conditions of Approval.
6. Comoletion of Improvements. Subdivider shall begin construction of the Improvements within ninety (90)
days and shall complete construction within twelve (12) months after the approval of this Agreement. Portions of
the Improvements may be completed at a later date, as determined by the City Engineer or as set forth in Exhibit A.
7. Force Majeure. In the event that Subdivider is unable to perform within the time limits herein due to
strikes, act of God, or other events beyond Subdivider's control, the time limits for obligations affected by such
events will be extended by the period of such events.
8. Time Extension. Subdivider may make application in writing to the City Council for an extension of time
for completion of the Improvements. The City Council, in its sole and absolute discretion, may approve or deny the
request or conditionally approve the extension with additions or revisions to the terms and conditions of this
Agreement.
As a condition of the time extension, Subdivider shall furnish securities, similar in form and substance to those
required in SECTION 3 hereinabove, to cover the period of extension. The value of the securities shall be sufficient
to ensure the performance of and payment for Improvements that remain incomplete at the time of the extension,
and to provide warranty security on completed Improvements.
9. Survey Monuments. Before final approval of street improvements, Subdivider shall place survey monuments
in accordance with the provisions of Sections 66495, et sec. of the Subdivision Map Act and of the La Quinta
Municipal Code. Subdivider shall provide the City Engineer written proof that the monuments have been set,
evidence of payment and receipt thereof by the engineer or surveyor setting the monuments, and intersection
monument tie -outs for monuments set in public streets.
10. Final Acceotanr_e of Improvements. At the completion of construction and prior to acceptance of the
Improvements by City, Subdivider shall submit a request for final approval by City. The request shall be accompanied
by any required certifications from Subdivider's engineers or surveyors, approval letters from other agencies having
jurisdiction over and approval authority for improvements required by this Agreement or the Conditions of Approval,
and any required construction quality documentation not previously submitted.
Upon receipt of said request, the City Engineer or a duly -authorized representative will review the required
documentation and will inspect the Improvements. If the Improvements are determined to be in accordance with
applicable City standards and specifications, and as provided herein, obligations required by the Conditions of
Approval and this Agreement have been satisfied, and Subdivider has provided revised plans as required in Paragraph
11, hereinafter, the City Engineer shall recommend acceptance of the Improvements by the City Council.
11. Revisions to Plans. When the Improvements have been inspected and approved by the City Engineer,
Subdivider shall make any necessary revisions to the original plans held by City so the plans depict the actual
Improvements constructed. When necessary revisions have been made, each separate sheet of the plans shall be
clearly marked with the words "As -Built," "As -Constructed," or "Record Drawing," the marking shall be stamped
by an engineer or surveyor, as appropriate for the improvements thereon, who is licensed to practice in California,
and the plans shall be resubmitted to the City Engineer.
12. Improvement Warranty_. Subdivider hereby guarantees the Improvements to City for a period of one (1)
year, beginning on the date of final acceptance of the Improvements by the City Council, against any defective work
or labor done, or defective materials furnished, and shall repair or replace such defective work or materials.
13. Release of Security. City shall retain and release securities in accordance with the provisions of Section
3 of this agreement. Prior to the release of payment security, the City Engineer may require Subdivider to provide
a title report or other evidence sufficient to show claims of lien, if any, that may affect the amount of payment
security released.
C:\WP\TRACTS\Agreements\28457-1.sia Page 4 of 6
14. City Right to Cure. If Subdivider fails to perform any obligation hereunder and such obligation has not been
performed within sixty (60) days after written notice of default from City, then City may perform the obligation, and
Subdivider shall pay the entire cost of such performance by City including costs of suit and reasonable attorney's
fees incurred by City in enforcing such obligation. In cases of emergency or compelling public interest, as determined
by the City Engineer, the requirement for written notice of default and/or the passage of sixty (60) days shall be
deemed waived and all other provisions of this Article shall remain in effect.
15. Indemnification. Subdivider hereby binds itself, its officers, employees, agents, representatives, executors,
administrators, guarantors, heirs, and assigns, and agrees to indemnify, defend and hold City and its officers,
employees, agents, representatives, and assigns harmless from and against any losses, claims, demands, actions,
or causes of action of any nature whatsoever, arising out of or in any way connected with Subdivider's performance
herein under, including costs of suit and reasonable attorneys' fees.
16. No Modification of Conditions. This Agreement shall in no respect act to modify or amend any provision
of the Conditions of Approval. In the event that any requirement or condition of this Agreement is inconsistent with
or fails to include one or more provisions of the Conditions of Approval, which document(s) is (are) incorporated
herein by reference, the provisions in the Conditions of Approval shall remain in effect and shall control.
17. Severabilitv_. In the event that any provision or provisions of this Agreement are held unenforceable, all
provisions not so held shall remain in full force and effect.
18. General Provisions
A. All notices pursuant to this Agreement shall be in writing and shall be personally delivered or sent by
registered or certified mail, return receipt requested, to the parties at their respective addresses indicated hereon.
Notices personally delivered shall be effective upon delivery. Notices mailed as provided herein and sent postage
prepaid shall be effective upon the date of delivery or refusal indicated on the return receipt. Either party may
change its address for notices hereunder by notice to the other given in the manner provided in this subparagraph.
B. The terms, conditions, covenants, and agreements set forth herein shall apply to and bind the heirs,
executors, administrators, assigns, and successors of the parties hereto.
C. Neither party to this Agreement relies upon any warranty or representation not contained in this
Agreement.
D. This Agreement shall be governed by and interpreted with respect to the laws of the State of
California.
E. In the event of any dispute between the parties with respect to this Agreement, the prevailing party
shall be. entitled to prompt payment of its reasonable attorneys' fees from the non -prevailing party.
F. Any failure or delay by either party in asserting any of its rights and remedies as to any default shall
not operate as a waiver of any default or of any such rights or remedies provided for hereunder.
(This space intentionally left blank.)
C:\WP\TRACTS\Agreements\28457-1.sia Page 5 of 6
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above.
CITY:
ity of La auinta
8-495 Calle Tampico
Quinta, CA 92253
60/777-7075
Th6mas P. Genovese, City Manager
SUBDIVIDER:
1 Florentina Dr.
Rancho Mirage, CA
92270
By:
Title:
By:
Title:
,, �/, �/q /- 7
Date
The Exchange Group, Inc.
'4't S8r' Boa , dvratk- Suite-2 -2-
-PdI111 esert,--C-Ar�9229-1-'F--
760/7-77-7366-- 836-1888
Date
Date
i
Reviewed and Approved:
City Engineer Date
Approved as to Form: -,Q�225?e's— 1 7
City Attorney Date
C:\WP\TRACTS\Agreements\28457-1.sia Page 6 of 6
STATE OF CALIFORNIA )
► ss.
COUNTY OF Riverside ►
On 5/21/97 , before me, Gabrielle Kappneyer ,
Name, Title, e.g., "Jane Doe, Notary Public"
personally appeared Roger Snellenberger
Name(s) of Signer(s)
personally known to me - OR -- ❑ proved to me on the basis of satisfactory evidence to be the
person(s) whose name(s) is/are subscribed to the within instrument
and acknowledged to me that he/she/they executed the same in
his/her/their authorized capacity(ies), and that by his/her/their
signature(s) on the instrument the person(s), or the entity upon
behalf of which the person(s) acted, executed the instrument.
GAMEU KAPPAAM Witness my hand and official seal.
C4=601M # 1111436
F101MY Corm, Ermines Sep 16. 21XID
Signatur o tary
OPTIONAL
Though the data below are not required by law, the information may prove valuable to persons relying on the
document and could prevent fraudulent reattachment of this form.
CAPACITY CLAIMED BY SIGNER:
❑ Individual
® Corporate Officer:
President
Title(s)
❑ Partner(s): ❑ Limited
❑ General
❑ Attorney -in -Fact
❑ Trustee(s)
❑ Guardian/Conservator
❑ Other:
SIGNER IS REPRESENTING
Name of Person(s) or Entity(ies)
The Exchange Group Inc.
DESCRIPTION OF ATTACHED DOCUMENT
Subdivision Irnprovemnt Agreement Tract 2845
Title or Type of Document
7
Number of Pages
c; 121197
Date of Document
SIGNERS
(Other than named above)
Exhibit A
SECURITY - TRACT 28457-1
Except as otherwise provided herein, Subdivider shall furnish performance security and payment security
prior to agendization of the Map for approval by the City Council.
Improvements designated as "Participatory" have been or will be constructed by others. Security for
Participatory Improvements shall remain in place indefinitely until called upon or released by City.
Monumentation security shall remain in place until City receives certification, by a person authorized to
practice land surveying in the State of California, that monumentation is complete.
As elements of the work are completed, Subdivider may request a maximum of two partial releases of
performance security. Partial releases shall be for not less than Ten Percent 0 0 %) of the total performance
security for the tract and shall not reduce total performance security below the amount necessary to
complete the Improvements plus Ten Percent (10%). Partial releases of performance security will be
evaluated and may be granted, in whole or in part, by the City Engineer. Requests for partial releases,
setting forth in detail the amount of work completed and the value thereof, shall be made in writing to the
City Engineer.
Payment security for Water, Sewer and Electrical improvements is subject to release if authorized by the
appropriate utility authority. Otherwise, all payment security shall remain in place until all required tract
improvements are complete and accepted by the City Council.
Improvement Description Performance Payment
Grading $32,700 $32,700
Streets & Storm Drainage 270,888 270,888
Domestic Water 92,000 92,000
Sanitary Sewer 107,249 107,249
Electrical (28457-1 & -2) 160,200 160,200
Perimeter Wall (All of 28457-1 & -2 boundary) 130,000 130,000
Perimeter & Basin Landscaping (All of T.M. 28457) 163,800 163,800
Fred Waring Median (Participatory) 83,440 0
Palm Royale Traffic Signals (Participatory) 55,608 0
Monumentation 4.400 0
Totals: $1,100,285 $956,837
CUTMQ
insq�lco�
GRADING
BOND NO: 439926S
INITIAL PREMIUM:
SUBJECT TO RENEWAL.
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
$589. 00
TIC EXCHANGE GROUP, INC.
That we, , as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA RUINTA
THIRTY TWO THOUSAND SEVEN HUNDRED DOLLARS AND 00/ 100
($ �G ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/Parcel) Map No. 28457-1,
entered into an agreement or agreements with said Obligee to complete the improvements specified in
said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or
agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
California, this
23rd
"PRINCIPAL"
day of
THE EXCHANGE GROUP, INC.
May
Palm Desert
,1997
"SURETY"
DEVELOPERS INSLWANCE COMPANY
B
4;;1:a1ne M Nielsen Attorney -in -Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
DI 113 Rev. 2/91
A
:s
Fu u ut—
insc
ICO
CMG OM D
GRADING
BOND NO:
439926S
PREMIUM INCLUDED
IN PERFORMANCE BOND.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXCHANGE GROUP, INC.
as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Ob�e, AAhe m of THIRTY TPPO THOUSAND SEMI HUNDRED DOLLARS AND 00/100****
($ vv.ov) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are made a part of this bond, with the
CITY OF LA OUINTA
subdivision designated as (Tract/ Parcel) Map No.
by the Government Code of California.
TRACT 28457-1
as Obligee for the improvements in the
as required
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to make payment to any contractor, his
subcontractors, or to persons renting equipment or furnishing labor and materials to them for the improvement required by said
agreement or agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section 66499.10 of the Government Code of
California as improvement security, and shall inure to the benefit of any and all contractors, their subcontractors and persons renting
equipment or furnishing labor or materials to them for the improvement. Notice of extension of time for completion is waived by the
Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at Palm Desert
California, this
23rd
"PRINCIPAL"
day of AZay 19 97
TTTF rXcxarrcE GROUP X INC.
v/fit
"SURETY"
DEVELOPERS INSURANCE COMPANY
0 10 M%1I �
17780 Fitch
Irvine, CA 92714
(714) 263-3300
FORM DI 112 (Rev. 5/92)
in.-4ftirmo
�G,30Mp
BOND NO:
439927S
INITIAL PREMIUM: ,876.00
STREETS & STORM DRAINAGE SUBJECT TO RENEWAL.
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXCIANGE GROUP, INC. , as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA RUI NTA
as Obligee, in the sum of TWO HUNDRED SEVENTY THOUSAND EIGHT HUNDRED EIGHTY EIGHT DOLLARS AND 00/1
($
270 888 00**** , )Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/Parcel) Map No. 28457-1
entered into an agreement or agreements with said Obligee to complete the improvements specified in
said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or
agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at PALM DESERT,
California, this 23rd day of May , 19 97
"PRINCIPAL"
THE EXCHANGE GROUP, INC.
"SURETY"
DEVELOPERS INSURANCE COMPANY
BY:
(�1)644L.04 7h
-Diane M Nielsen Attorney -in -Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
DI 113 Rev. 2191
PK 1=21=4THCO
� C�GQOMp
BOND NO:
439927S
STREETS & S'POM2 DRAINAGE PREMIUM INCLUDEDIN PERFORMANCE BOND.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXCI-IANGE GROUP. INC.
as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA RUINTA
as Ob�*y�, W* gge TWO HUNDRED SEVENTY THOUEIGHT
SAND EIGHTY HUNDRED EIGHTY DOLLARS AND00/1
($ ' * * ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are made a part of this bond, with the
CITY OF I -A QUINTA
subdivision designated as (Tract/ Parcel) Map No.
by the Government Code of California.
Tact #28457-1
as Obligee for the improvements in the
, as required
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to make payment to any contractor, his
subcontractors, or to persons renting equipment or furnishing labor and materials to them for the improvement required by said
agreement or agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section 66499.10 of the Government Code of
California as improvement security, and shall inure to the benefit of any and all contractors, their subcontractors and persons renting
equipment or furnishing labor or materials to them for the improvement. Notice of extension of time for completion is waived by the
Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at Palm Desert
California, this 23rd day of �IaY 19 97
"PRINCIPAL"
THE EXCHANGE GROUP, INC.
"SURETY"
DEVELOPERS INSURANCE COWANY
BY: (Z)
Diane M Nielsen Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
(714) 263-3300
FORM DI 112 (Rev. 5/92)
We
ins 'CD BOND NO: 439928S
�[O LUJC� INITIAL PREMIUM: �656.00
DGHBTIC WATER SUBJECT TO RENEWAL.
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, 711F EXCHANGE GROUP, INC. , as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Obligee, in the sum of NTNFTY 'I_WO THOUSAND DOILAR,S AND 00'1100*********
($ 92�'nn**** ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
W H EREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/ Parcel) Map No.28457-1 ,
entered into an agreement or agreements with said Obligee to complete the improvements specified in
said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or
agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at Palm De,qert ,
California, this
23rd
"PRINCIPAL"
day of
TFIE EXCHANGE GROUP, INC.
May
, 19
"SURETY"
DEVELOPERS INSURANCF�COMPANY
M
BY:
DianeM-Nielsen
Attorney -In -Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
DI 113 Rev. 2/91
'C BOND NO: _ 499928S
101co
�i ( Q M[D PREMIUM INCLUDED
DGIESTIC WATER IN PERFORMANCE BOND.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we TM EXCHANGE GROUP, INC.
' , as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Obligee, in the sum of NINETY TWO THOUSAND DOLLARS AND 00/100********************
($ 92.000.00*****
Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION 1S SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are made a part of this bond, with the
CITY OF LA QUINTA
subdivision designated as (Tract/ Parcel) Map No.
by the Government Code of California.
Tract #439928S
as Obligee for the improvements in the
as required
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to make payment to any contractor, his
subcontractors, or to persons renting equipment or furnishing labor and materials to them for the improvement required by said
agreement or agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section 66499.10 of the Government Code of
California as improvement security, and shall inure to the benefit of any and all contractors, their subcontractors and persons renting
equipment or furnishing labor or materials to them for the improvement. Notice of extension of time for completion is waived by the
Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at Palm Desert
California, this
23rd day of May
"PRINCIPAL"
THE EXCHANGE GROUP, INC.
,19
"SURETY"
DEVELOPERS INSURANCE COMPANY
g
BY:
(S;;a#���a�A�ZA�---,��
Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
(714) 263-3300
FORM DI 112 (Rev. 5/92)
U LnJ�
insc o is
BOND NO:
439929S
INITIAL PREMIUM: $1,930,00
SUBJECT TO RENEWAL.
SANITARY SEWER
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXC9ANGE GROUP INC, - , as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
as Obligee, in the sum of ONE 14NMD SEVEN THOUSAND TWO HUNDRED FOIE NINE DOLLARS AND 00/100
($ 107 249- 00**** ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/Parcel) Map No.28457-1
entered into an agreement or agreements with said Obligee to complete the improvements specified in
said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or
agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at Palm Desert ,
California, this
23rd day of
"PRINCIPAL"
THE EXCHANGE GROUP, INC.
Z2-.O� 0j--0e
1000"2
May , t 9 97
"SURETY"
DEVELOPERS INSURANCE COMPANY
BY: CL)10A/1L--X - f , I
Diane M Nielsen Attorney -in -Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
DI 113 Rev. 2/91
Pico
gF�30MC�
BOND NO:
439929S
PREMIUM INCLUDED
IN PERFORMANCE BOND.
SANITARY SEWER
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXCHANGE GROUP, INC.
as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Ob111iff, V6. CNE 1 JNDRED SEVEN THOUSAND TWO HUNDRED FORTY NINE DOLLARS AND 00/100
r�`�
Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are made a part of this bond, with the
CITY OF LA QUINTA
subdivision designated as (Tract/ Parcel) Map No.
by the Government Code of California.
Tract #28457-1
as Obligee for the improvements in the
, as required
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to make payment to any contractor, his
subcontractors, or to persons renting equipment or furnishing labor and materials to them for the improvement required by said
agreement or agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section 66499.10 of the Government Code of
California as improvement security, and shall inure to the benefit of any and all contractors, their subcontractors and persons renting
equipment or furnishing labor or materials to them for the improvement. Notice of extension of time for completion is waived by the
Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at Palm Desert
California, this 23rd day of AlaY 19 97
"PRINCIPAL"
"SURETY"
DEVELOPERS INSURANCE COMPANY
BY:
(:��Y A*.e )� �?UAZ�
Diane M Nielsen Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
(714) 263-3300
FORM DI 112 (Rev. 5/92)
�o
inscc��co
ELECTRICAL
BOND NO: 439930S
INITIAL PREMIUM: $2,884.00
SUBJECT TO RENEWAL.
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, UM ExCIIANGE GROW, INC.
as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Obligee, in the sum of CAVE 110DRED SIXTY THOUSAND TWO HUNDRED DOLLARS AND 00/100
1B0 200 00*****
($ � )Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/ Parcel) Map No.
28457-1 & —2
said agreement or agreements.
entered into an agreement or agreements with said Obligee to complete the improvements specified in
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or
agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
California, this 23rd day of Ma
"PRINCIPAL"
Palm Desert
,1997
"SURETY"
DEVELOPERS INSURANCE COMPANY
BY: C7)th'e,
iane M Nielsen Attorney -in -Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
D1 113 Rev. 2/91
Pico
�p ELEcrxicaL
BOND NO: 439930S
PREMIUM INCLUDED
IN PERFORMANCE BOND.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXCHANGE GROUP, INC.
as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA OUINTA
as Obligee, in the sum of WE HUNDRED SIXTY THOUSAND TWO HUNDRED DOLLARS AND 00/100
($ 160,200.00*****
Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are made a part of this bond, with the
C.TW OF T„4 QUTNTA as Obligee for the improvements in the
subdivision designated as (Tract/ Parcel) Map No. Tract #28457-1 & —2 , as required
by the Government Code of California.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to make payment to any contractor, his
subcontractors, or to persons renting equipment or furnishing labor and materials to them for the improvement required by said
agreement or agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section 66499.10 of the Government Code of
California as improvement security, and shall inure to the benefit of any and all contractors, their subcontractors and persons renting
equipment or furnishing labor or materials to them for the improvement. Notice of extension of time for completion is waived by the
Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
California, this 23rd day of May
"PRINCIPAL"
THE EXCHANGE GROUP, INC.
01
Palm Desert
,19
"SURETY"
DEVELOPERS INSURANCE COMPANY
ill
BY:
iane Nielsen Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
(714) 263-3300
FORM 01 112 (Rev. 5/92)
insC��C0
L7M�
BOND NO: 439931S
INITIAL PREMIUM:
SUBJECT TO RENEWAL
PERIMETER WALL
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
$2,340.00
TIC EXC OGE GROM ., INC.
That we, , as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Ob iQ sdk * ONE HUNDREDHUNDRED THIRTY THOUSAND DOT, ARS AND 00/100
($ ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
All of
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/ Parcel) Map No. ,
457-1 & -2 boundary
said agreement or agreements.
entered into an agreement or agreements with said Obligee to complete the improvements specified in
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or
agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
California, this
23rd day of Alay
"PRINCIPAL"
THE EXCHANGE GROUP, INC.
Palm Desert
,1997
"SURETY"
DEVELOPERS INSURANCE COMPANY
BY:
DianlRl Nielsen Attorney -in -Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
DI 113 Rev. 2/91
P
nro "N� I
S=MPILMO
PERIMETER WALL
BOND NO: 439931S
PREMIUM INCLUDED
IN PERFORMANCE BOND.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, = EXCHANGE GROUP, INC.
as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Obli ee, in the sumf CAVE HUNDRED THIRTY THOUSAND DOI,T,ARS AND 00/100
150 000.00****
($ ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION 1S SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are made a part of this bond, with the
CITY OF LA QUINTA as Obligee for the improvements in the
subdivision designated as (Tract/ Parcel) Map No. All of 28457-1 & —2 boundary
by the Government Code of California.
, as required
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to make payment to any contractor, his
subcontractors, or to persons renting equipment or furnishing labor and materials to them for the improvement required by said
agreement or agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section 66499.10 of the Government Code of
California as improvement security, and shall inure to the benefit of any and all contractors, their subcontractors and persons renting
equipment or furnishing labor or materials to them for the improvement. Notice of extension of time for completion is waived by the
Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at Palm Desert
California, this 23rd day of Ma V 19 97
"PRINCIPAL"
"SURETY"
DEVELOPERS INSURANCE COMPANY
B
Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
(714) 263-3300
FORM DI 112 (Rev. 5/92)
jnSC(ih=
'CO
C�G30MG�
PERM & BASIN LANDSCAPING
BOND NO: 439932E
INITIAL PREMIUM: $22948.00
SUBJECT TO RENEWAL.
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXCffANGE GROUP, INC. , as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Obl" i s ONE HUNDRED SIXTY THREE THOUSAND EIGHT HUNDRED DOLIAIiS AND 00/100
($ ) 00 Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/Parcel) Map No
All of T.M. 28457
said agreement or agreements.
entered into an agreement or agreements with said Obligee to complete the improvements specified in
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or
agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
California, this 23rd
"PRINCIPAL"
day of
CIE EXCfIANGE GROUP , INC.
May
Palm Desert
97
19
"SURETY"
DEVELOPERS INSURANCE COMPANY
11
B�
lane-M N10isen Attorney -in -Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
D1 113 Rev. 2/91
r
SC
1co
BOND NO:
439932S
PREMIUM INCLUDED
PERIMETER & BASIN LANDSCAPING IN PERFORMANCE BOND.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXCHOGE GROUP, INC. , as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Obligee, in the sum of CNR T-ffJMRM STXW TRRFF THi TSAM FIGHT HE R. DO .T.AR. AVID 00.1100
($ 1 (33 Rnn. nn***** ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION 1S SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are made a part of this bond, with the
CITY OF LA QUINTA
subdivision designated as (Tract/ Parcel) Map No.
by the Government Code of California.
All of T.M. 28457
as Obligee for the improvements in the
as required
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to make payment to any contractor, his
subcontractors, or to persons renting equipment or furnishing labor and materials to them for the improvement required by said
agreement or agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section 66499.10 of the Government Code of
California as improvement security, and shall inure to the benefit of any and all contractors, their subcontractors and persons renting
equipment or furnishing labor or materials to them for the improvement. Notice of extension of time for completion is waived by the
Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
California, this
23rd
"PRINCIPAL"
Palm Desert
day of MaY , 19 97
"SURETY"
DEVELOPERS INSURANCE COMPANY
B
iane M Nielsen Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
(714) 263-3300
FORM DI 112 (Rev. 5/92)
insc 'rm0 BOND NO: 439933S
INITIAL PREMIUM: $1,502.00
FRM WARING MEDIAN SUBJECT TO RENEWAL.
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, TM EXCHANGE GROUP, INC.
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the lawsas Principal,
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and fir of the State
mly bound unto
CITY OF LA QUINTA
as Obligee, in the sum of EIGHTY IMEE THOUSAND FOUR AUNDRE) FORTY DOUARS AND 00/100
(g 83.440.00****
Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, Jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/Parcel) Map No
. ,
28457-1
entered into an agreement or agreements with said Obligee to complete the improvements specified in
said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform s
aid agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or wai houtlnoor
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect. once
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the sari
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
California, this 23rd day of hk
"PRINCIPAL"
'TTTF FXt'`FTA rr_� GAP INC.
Palm Desert
,1997
"SURETY"
DEVELOPERS INSURANCE 4COMPANY
By -(
Y. ..-
Diane�MNVsen
Attorney -in -Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
DI 113 Rev. 2/91
ac;c a
FIC0
FRED WARING 1EDIAN
BOND NO:
439933S
PREMIUM INCLUDED
IN PERFORMANCE BOND.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXCHANGE GROM, INC.
as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY CF LA QUINTA
as Obli ee, in he sOr�� f EIGHTY n= THOUSAND FOUR HUNDRED FORTY DOLT,ARS AND 00/100
8�
($ ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION 1S SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are made a part of this bond, with the
MY OF LA QUINTA as Obligee for the improvements in the
subdivision designated as (Tract/ Parcel) Map No. Tract #28457-1
by the Government Code of California.
, as required
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to make payment to any contractor, his
subcontractors, or to persons renting equipment or furnishing labor and materials to them for the improvement required by said
agreement or agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section 66499.10 of the Government Code of
California as improvement security, and shall inure to the benefit of any and all contractors, their subcontractors and persons renting
equipment or furnishing labor or materials to them for the improvement. Notice of extension of time for completion is waived by the
Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
Palm Desert
California, this 23rd day of MaV 19 97
"PRINCIPAL"
"SURETY"
DEVELOPERS INSURANCE COMPANY
BY:
Diane M Nielsen Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
(714) 263-3300
FORM 01 112 (Rev. 5/92)
, ll CW�
inscc�co
C�[�OMp
BOND NO:
439934S
INITIAL PREMIUM: $1,001.00
SUBJECT TO RENEWAL.
PALM ROYALE TWOTI C SIGNALS
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THE Exa ANGE GROUP, INC. , as Principal,
That we,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
FIFTY FIVE THOUSAND SIX HUNDRED EIGHT DOLLARS AND 00/100
as Obi ',�h: Wk*4*
($ ) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/Parcel) Map No.
28457-1 entered into an agreement or agreements with said Obligee to complete the improvements specified in
said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or
agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
California, this
23rd day of May
"PRINCIPAL"
THE EXCHANGE GROUP, INC.
Palm Desert
,1997
"SURETY"
DEVELOPERS INSURANCE COMPANY
B
Diane M Nie sen Attorney -in -Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
DI 113 Rev. 2/91
I�14 a
OR
PALM ROYALS TRAFFIC SIGNALS
BOND NO: 439934S
PREMIUM INCLUDED
IN PERFORMANCE BOND.
SUBDIVISION IMPROVEMENTS
LABOR AND MATERIAL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, THE EXCHANGE GROUP, INC.
as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CI TV OF LA QUINTA
as Obligee, in the sum of FIFTY FIVE THOUSAND SIX HUNDRED EIGHT DOLT ARS AND 00/100
55 608.00******
($ t )Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, has entered into an agreement or agreements which are made a part of this bond, with the
CITY OF LA QUINTA
as Obligee for the improvements in the
subdivision designated as (Tract/ Parcel) Map No. Tract ##28457-1 , as required
by the Government Code of California.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal fails to make payment to any contractor, his
subcontractors, or to persons renting equipment or furnishing labor and materials to them for the improvement required by said
agreement or agreements, the Surety on this bond will pay the same, in an amount not exceeding the sum specified in this bond.
This bond is executed and filed to comply with Section 66499 through and including Section 66499.10 of the Government Code of
California as improvement security, and shall inure to the benefit of any and all contractors, their subcontractors and persons renting
equipment or furnishing labor or materials to them for the improvement. Notice of extension of time for completion is waived by the
Surety.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at USIm Te,Prt ,
California, this
23rd day of J , 19
"PRINCIPAL"
= EXCHANGE GROUP, INC.
"SURETY"
DEVELOPERS INSURANCE COMPANY
BY.
Diane M Nielsen Attorney -in -Fact
17780 Fitch
Irvine, CA 92714
(714) 263-3300
FORM DI 112 (Rev. 5/92)
13mo HU. 439935S
PREMIUM $79. 00
MONUMENTING BOND
FOR SUBDIVISIONS
KNOW ALL MEN BY THESE PRESENTS, THAT WHEREAS, THE EXCHANGE GROUP, INC.
hereinatter called SUBDIVIDER, is the developer of that certain subdivision
known as BELLA VISTA Tract 28457-1
; and WHEREAS, all monuments
have not yet been set in the positions noted in the proposed Final Subdivision
Map for said 3ubdivi3ion,
NOW, THEREFORE, ire the subdivider as Principal, and the _pgVF'T f�F� TN�TTRANr� r ern
17780 Fitch, Irvine, CA 92714
(Legal Title and Address of Surety)
as Surety, are held and firmly bound unto the I CITY OF 1A OUIl` TA
in the Sum or
FYYTR. TFTOLI,'�AND POTTR TAT MPJM WIS AR4 nNTI nn 1 nn , (: ** �
lawful money of the United States, for the ay
nt or uhich 3um well and truly
to be made, we bind ourselves, our heira, esecutorsg Administrators, euceessor, or assigns, or any or all or either of then, &hall tail to
surveyor for aeLting monuments in the Ray any engineer or
Subdivision Map for said subdivision inoaccordance twith nthe e proposed Final
Government Code Sec, 66495 et -se provieivna of
amount liut exceeding the account hereinaboveiactufort wland pwlaoay hill came Bame is an
is brought upon Chia Bend will lcdsr quit
and freed by the Court, and to be1taxed eaS vets and otoebesIncluded 1'ec to bi awarded
Judgement therein rendered. n the
1T IS HEARBy EXPRESSLY STIPULATED AND AGREED that this bond shall insure to the
benefit of any and all persons, companiea,.and corporations entitled to rile
claim against it.
Should the condition or this Bond be fully performed, then this obligation
shall become null and void, otherwise it Shall be and remain in Cull force
and efrect.
And the said Surety, for value received, hereby 3tipulatee and agrees that
no change, extension.or tine, alteration or addition to the terms of the
Agrcesent or Contr.cL. or to the work to be performed thereunder, shall in
any may afE«t'ita obligations on the Bonds and it does hereby waive notice
oC any much change, extension or time, alteration or addition to the term
of the Agreement or Contract.
IN WITNESS WHEREOF this Instrument has been duly executed by the Principal
and Surety above named on May 23 19 97
"Surety"
"Principal"
DEVELOPERS 2NSURANCE COt7rANY THE EXCHANGE GROUP, INC.
12
Diane M Nielsen -Attorney in Fact _
insc."qh=1co
c�ao�p
BOND NO:
435340S
INITIAL. PREMIUM:$810.00
SUBJECT TO RENEWAL.
SUBDIVISION IMPROVEMENTS
PERFORMANCE BOND
DUST CONTROL BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, EZ OKIE, INC. , as Principal,
and DEVELOPERS INSURANCE COMPANY, a corporation organized and doing business under and by virtue of the laws of the State
of California and duly licensed to conduct a general surety business in the State of California as Surety, are held and firmly bound unto
CITY OF LA QUINTA
as Obligee, in the sum of FORTY FIVE THOUSAND DOLLARS & N01100------------- ------------------------
($ 45, 000.00*********) Dollars, for which payment, well and truly to be made, we bind ourselves, our heirs, executors and
successors, jointly and severally firmly by these presents.
THE CONDITION OF THE OBLIGATION IS SUCH THAT:
WHEREAS, the above named Principal, as a condition of the filing of the final subdivision map of (Tract/ Parcel) Map No. 28457
entered into an agreement or agreements with said Obligee to complete the improvements specified in
said agreement or agreements.
NOW THEREFORE, the condition of this obligation is such, that if the above Principal shall well and truly perform said agreement or
agreements during the original term thereof or of any extension of said term that may be granted by the Obligee with or without notice
to the Surety, this obligation shall be void, otherwise it shall remain in full force and effect.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name of the said
Surety is hereto affixed and attested by its duly authorized Attorney -in -Fact at
California, this
2ND day of
"PRINCIPAL"
EZ OKIE, INC.
PALM DESERT
ums
"SURETY"
I q97
DEVEL RS INSURANCE COMPANY
r
BY:
Z
Attorney-in-Fact
17780 Fitch
Irvine, California 92714
(714) 263-3300
DI 113 Rev. 2/91
OUTS TA NDINa'BAD REPORT
Name: The Exchange Group, Inc.
Tract No. 28457-1
Date of Contract: May 21, 1997
Required Bond Amounts:
Grading -
$ 32,700
Streets/Drainage -
$270,888
Water -
$ 92,000
Sewer -
$107,249
Electrical -
$160,200
Perimeter Wall -
$130,000
Per. & Basin Landscape -
$163,800
Fred Waring Median -
$ 83,440
Palm Royale Signal -
$ 55,608
Monumentation -
$ 4,400
performance/labor materials
(same)
(same)
(same)
(same)
(same)
(same)
performance only
performance only
performance only
Dates of Bond Reductions: Median, signal, & monument to be retained; performance for all others
reduced to warranty of $95,684; payment to be released on 12/7/99; warranty to be released on 9/7/2000.
Outstanding Bonds:
Amount: Bond No.
$ 32,700
439926S
$ 32,700
same
$270,888
439927S
$ 270,888
same
$ 92,000
439928S
$ 92,000
same
$107,249
439929S
$107,249
same
$160,200
439930S
$160,200
same
$130,000
439931S
$130,000
same
$163,800
439932S
$163,800
same
$ 83,440
439933S
$ 83,440 (not required)
same
$ 55,608
439934S
$ 55,608 (not required)
same
$ 4,400 439935S
$ 45,000 435340S
Date Cancelled/Released:
SETTLEMENT AGREEMENT AND RELEASE
This Settlement Agreement and Release (hereinafter the "Agreement") is entered by and
between the CITY OF LA QUINTA, a public entity ("City") and both the EXCHANGE
GROUP, INC., a California Corporation and ROGER SNELLENBERGER DEVELOPMENT
CORP., a California Corporation (which was formally known as Advanced Development Corp.,
a California corporation) (collectively referred to as "Snellenberger") (all entities collectively
referred to as the "Parties") with reference to the following facts:
DeSnitions
The following definitions shall apply to this Agreement:
A. "Snellenberger" The term "Snellenberger" as used hereinafter, shall collectively
mean and refer to The Exchange Group, Inc. and Roger Snellenberger Development Corp., and
to their employees, successors, assigns, shareholders, officers, directors, partners, trustees,
members, agents and attorneys.
B. "City." The term "City" as used hereinafter, shall mean and refer to the City of
La Quinta, the City Council of the City of La Quinta, and shall also include, without limitation,
its employees, officials, employees, agents and attorneys.
C. "Party." The term "Party" as used hereinafter, shall mean an individual and
inclusive reference to each of City and Snellenberger.
Recitals
A. On May 21, 1997, the City approved the Subdivision Improvement Agreement
("SIA") for Bella Vista for Tract 28457-1. On March 3, 1999, the City approved the SIA for
Bella Vista for Tract 28458-1. Tract 28457-1 and 28458-I are collectively referred to as "Bella
Vista." Bella Vista is located on the north side of Fred Waring Drive east of Washington Street.
The City and Snellenberger are parties to certain claims that arose out of the Bella Vista SIAs.
Snellenberger, as developer of Bella Vista, is responsible for the design and construction of a
portion of the landscaped median improvements that has been partially constructed under a City
Public Works project known as the "Fred Waring Drive Median Landscape Improvements." The
City now proposes to complete the Fred Waring Drive Median Landscape Improvements. The
Parties disagree over the amount to be paid by Snellenberger.
B. By this Agreement, City and Snellenberger intend and desire to avoid the expense
and uncertainty of litigation relating to City's claims and to settle all claims arising from the
SIAs.
Terms of Settlement
NOW THEREFORE, in consideration of the mutual covenants set forth herein, the
Parties agree as follows:
290/015610A 113
1089967.01 a08/20/12
1. Obligations of Snellenberger.
After execution of this Agreement by all parties but no later than September 28, 2012,
Snellenberger shall pay a total of $100,000 to City by a check made payable to "City of La
Quinta" and delivered to the Finance Department at City Hall. This sum constitutes payment in
full for all claims by City arising out of the SIAs for Tracts 28457-1 and 28458-1.
2. Obligations of City.
Upon receipt of the payment referenced in Section 1 of this Agreement, City shall release
Bond Nos. 439933S and 814139S.
3. No Admission of Fault.
This Agreement is a compromise and settlement of disputed claims. Nothing in this
Agreement shall be interpreted, used, or construed as an admission of fault or wrongful conduct
of any kind by any of the Parties.
4. Release.
In consideration for the agreements as set forth herein, Snellenberger and the City, on
behalf of themselves and their owners, heirs, successors, assigns, insurers, sureties, lenders, lien
holders, attorneys, agents, and other representatives do hereby release each other from any and
all claims, actions and causes of action, obligations, liabilities, indebtedness, breaches of duty,
claims for injunctive and other equitable relief, suits, liens, losses, costs or expenses, including
attorneys' fees, of any nature whatsoever, known or unknown, fixed or contingent, arising out of,
based upon or relating to the Bella Vista SIAs.
(b) Waiver of Civil Code Section 1542: By releasing and forever discharging claims
both known and unknown as above provided, Snellenberger and the City expressly waive any
rights under California Civil Code section 1542, which provides:
"A GENERAL RELEASE DOES NOT EXTEND TO
CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF
EXECUTING THE RELEASE WHICH IF KNOWN BY HIM
MUST HAVE MATERIALLY AFFECTED HIS
SETTLEMENT WITH THE DEBTOR."
The Parties waive and relinquish any rights and benefits which they have or may have
under section 1542 of the Civil Code of the State of California. The Parties have performed a
full and complete investigation of the facts pertaining to the settlement. Nevertheless, the Parties
acknowledge that they are aware that they may hereafter discover facts in addition to or different
from those which they now know or believe to be true with respect to the subject matter of this
Release, but it is their intention hereby to fully and finally forever settle and release any and all
matters, disputes and differences, known or unknown, suspected and unsuspected, which now
exist, may exist or heretofore have existed, as against each other, arising out of the Bella Vista
SIAs and, in furtherance of this intention, the release herein given shall be and remain in effect
290/015610-0113
1089967.01 e08/20/12 -2-
as a full and complete general release notwithstanding discovery or existence of any such
additional or different facts.
5. Entire Agreement.
This Agreement sets forth the entire agreement of the Parties and supersedes any and all
prior agreements or understandings, if any, between them pertaining to the subject matter hereof,
and shall not be modified or altered except by a subsequent written agreement signed by the
parties. This Agreement shall be binding upon and inure to the benefit of the Parties, their
respective representatives, shareholders, officers, directors, employees, affiliates, successors,
heirs and assigns.
6. Warranty.
The Parties hereby expressly warrant and represent that they have not transferred or
assigned or attempted to transfer or assign any of the claims released hereunder. The persons
signing this Agreement hereby warrant that they have the power and authority to bind any party
on whose behalf this Agreement is signed.
7. Controlling Law.
This Agreement shall be interpreted and construed in accordance with the law of the State
of California.
8. Attorneys' Fees and Costs.
The Parties shall bear all of their own respective costs and attorneys' fees incurred
relating to the Action.
9. Severability
If any provision and/or part of this Agreement is held, determined, or adjudicated to be
invalid, unenforceable or void for any reason, each such provision shall be severed from the
remaining provisions of the Agreement and shall not affect the validity and enforceability of
such remaining provisions.
10. Counterparts.
This Agreement may be executed in counterparts and by facsimile or other electronic
delivery.
11. Review of Agreement.
The Parties each acknowledge and represent that they have read this Agreement, have
had the opportunity to consult with their respective attorneys concerning its contents and
consequences, that the Agreement is being executed solely in reliance on their respective
judgment, belief and knowledge of the matters set forth herein and on the advice of their
respective attorneys.
290/015610-0113
1089%7.01 nO 20112 -3-
12. Neutral Interpretation.
The Parties agree that all parts of this Agreement shall in all cases be construed as a
whole according to their fair meaning and shall not be construed strictly for or against any party
hereto.
13. Modification.
This Agreement shall not be modified, amended or supplemented unless such
modifications, amendments or supplements are in writing and signed by each party to this
Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement on the date set forth
below.
Date: 1, 2012
Date: Y-21 2012
Date: 12012
Date: l - `( , 2012
290/015610-0113
1089967.01 a08/20112
-4-
M
IN
THE EXCHANGE GROUP, INC.
By:
Its:
ROGER SNELLENBERGER
DEVELOP ENT CORP.
By:
Its: 5
APPROVEPAS S TO FO
By:
V. Kath rive Jenson, Attorney